NAPLES, FL – Industrial Nanotech Inc., an emerging leader in nanotechnology, has cancelled an order for 12,000 gallons of its patented Nansulate® nanotechology-based coatings from Golden Horse Real Estate Co. Ltd. in China.

 

“The relationship with Golden Horse Real Estate Co. Ltd. began to present financial risks to Industrial Nanotech Inc., which were not in the best interests of the company or its shareholders, and we have declined to proceed,” stated Stuart Burchill, CEO/CTO of Industrial Nanotech Inc. “We will not create exposure to financial risk by selling to customers under unfavorable terms and conditions. The company continues to nearly double revenues year after year since inception in 2004, including in the difficult economic climate of 2008, by selling to customers under terms and conditions that are favorable to the company, and we prefer that strategy.”